<?xml version="1.0" encoding="UTF-8"?>
<!--ABRC V1.0 (20-04-2026)-->
<xbrli:xbrl xmlns:in-capmkt="https://www.sebi.gov.in/xbrl/2025-05-31/in-capmkt" xmlns:in-capmkt-ent="https://www.sebi.gov.in/xbrl/Awarding_Or_Bagging_Or_Receiving_Of_Orders_Or_Contracts/2025-05-31/in-capmkt/in-capmkt-ent" xmlns:in-capmkt-roles="https://www.sebi.gov.in/xbrl/Awarding_Or_Bagging_Or_Receiving_Of_Orders_Or_Contracts/2025-05-31/in-capmkt-roles" xmlns:xbrldt="http://xbrl.org/2005/xbrldt" xmlns:nonnum="http://www.xbrl.org/dtr/type/non-numeric" xmlns:in-capmkt-types="https://www.sebi.gov.in/xbrl/2025-05-31/in-capmkt-types" xmlns:link="http://www.xbrl.org/2003/linkbase" xmlns:net="http://www.xbrl.org/2009/role/net" xmlns:num="http://www.xbrl.org/dtr/type/numeric" xmlns:xlink="http://www.w3.org/1999/xlink" xmlns:iso4217="http://www.xbrl.org/2003/iso4217" xmlns:negated="http://www.xbrl.org/2009/role/negated" xmlns:xbrldi="http://xbrl.org/2006/xbrldi" xmlns:xbrli="http://www.xbrl.org/2003/instance" xmlns:xl="http://www.xbrl.org/2003/XLink"><link:schemaRef xlink:type="simple" xlink:href="in-capmkt-ent-2025-05-31.xsd"/><xbrli:context id="MainI"><xbrli:entity><xbrli:identifier scheme="https://www.sebi.gov.in/in-capmkt/ScripCode">532945</xbrli:identifier></xbrli:entity><xbrli:period><xbrli:instant>2026-06-12</xbrli:instant></xbrli:period></xbrli:context><xbrli:context id="I_BaggingOrReceivingOfOrdersOrContracts"><xbrli:entity><xbrli:identifier scheme="https://www.sebi.gov.in/in-capmkt/ScripCode">532945</xbrli:identifier></xbrli:entity><xbrli:period><xbrli:instant>2026-06-12</xbrli:instant></xbrli:period><xbrli:scenario><xbrldi:explicitMember dimension="in-capmkt:AwardingOrBaggingOrReceivingOfOrdersOrContractsAxis">in-capmkt:BaggingOrReceivingOfOrdersOrContractsMember</xbrldi:explicitMember></xbrli:scenario></xbrli:context><xbrli:unit id="INR"><xbrli:measure>iso4217:INR</xbrli:measure></xbrli:unit><in-capmkt:NSESymbol contextRef="MainI">SEPC</in-capmkt:NSESymbol><in-capmkt:NameOfTheCompany contextRef="MainI">SEPC Limited</in-capmkt:NameOfTheCompany><in-capmkt:ScripCode contextRef="MainI">532945</in-capmkt:ScripCode><in-capmkt:MSEISymbol contextRef="MainI">NOTLISTED</in-capmkt:MSEISymbol><in-capmkt:ISIN contextRef="MainI">INE964H01014</in-capmkt:ISIN><in-capmkt:TypeOfAnnouncement contextRef="MainI">New</in-capmkt:TypeOfAnnouncement><in-capmkt:TypeOfEvent contextRef="MainI">Bagging/Receiving of orders/contracts</in-capmkt:TypeOfEvent><in-capmkt:DateOfOccurrenceOfEvent contextRef="MainI">2026-06-11</in-capmkt:DateOfOccurrenceOfEvent><in-capmkt:TimeOfOccurrenceOfEvent contextRef="MainI">22:48:00</in-capmkt:TimeOfOccurrenceOfEvent><in-capmkt:DateOfReport contextRef="MainI">2026-06-12</in-capmkt:DateOfReport><in-capmkt:NameOfTheEntityAwardingTheOrdersOrContracts contextRef="I_BaggingOrReceivingOfOrdersOrContracts">Steel Authority of India Limited (SAIL)</in-capmkt:NameOfTheEntityAwardingTheOrdersOrContracts><in-capmkt:WhetherTheOrdersOrContractsIsOrdinaryCourseOfBusiness contextRef="I_BaggingOrReceivingOfOrdersOrContracts">true</in-capmkt:WhetherTheOrdersOrContractsIsOrdinaryCourseOfBusiness><in-capmkt:WhetherOrdersOrContractsIsAwardedByDomesticOrInternationalEntity contextRef="I_BaggingOrReceivingOfOrdersOrContracts">Domestic</in-capmkt:WhetherOrdersOrContractsIsAwardedByDomesticOrInternationalEntity><in-capmkt:WhetherTheCounterpartyIsIndianListedEntity contextRef="I_BaggingOrReceivingOfOrdersOrContracts">true</in-capmkt:WhetherTheCounterpartyIsIndianListedEntity><in-capmkt:ISINOfTheCounterparty contextRef="I_BaggingOrReceivingOfOrdersOrContracts">INE114A01011</in-capmkt:ISINOfTheCounterparty><in-capmkt:NSESymbolOfTheCounterparty contextRef="I_BaggingOrReceivingOfOrdersOrContracts">SAIL</in-capmkt:NSESymbolOfTheCounterparty><in-capmkt:ScripCodeOfTheCounterparty contextRef="I_BaggingOrReceivingOfOrdersOrContracts">500113</in-capmkt:ScripCodeOfTheCounterparty><in-capmkt:NameOfTheCountryInWhichCounterpartyIsExists contextRef="I_BaggingOrReceivingOfOrdersOrContracts">Indian</in-capmkt:NameOfTheCountryInWhichCounterpartyIsExists><in-capmkt:DateOfBaggingOrReceivingOfOrdersOrContracts contextRef="I_BaggingOrReceivingOfOrdersOrContracts">2026-06-11</in-capmkt:DateOfBaggingOrReceivingOfOrdersOrContracts><in-capmkt:AmountOfTheOrdersOrContracts contextRef="I_BaggingOrReceivingOfOrdersOrContracts" unitRef="INR" decimals="-5">6733200000</in-capmkt:AmountOfTheOrdersOrContracts><in-capmkt:SignificantTermsAndConditionsOfOrdersOrContractsIsAwarded contextRef="I_BaggingOrReceivingOfOrdersOrContracts">Coke Oven BOP excluding Civil &amp; Structural (Package COB-3)” for 4.08Mtpa CS Expansion of SAIL – ISP Burnpur and Sinter Plant BOP including Civil &amp; Structural (Sinter Package-2)” for 4.08Mtpa CS Expansion of SAIL – ISP Burnpur</in-capmkt:SignificantTermsAndConditionsOfOrdersOrContractsIsAwarded><in-capmkt:NatureOfOrdersOrContracts contextRef="I_BaggingOrReceivingOfOrdersOrContracts">Coke Oven BOP excluding Civil &amp; Structural (Package COB-3)” for 4.08Mtpa CS Expansion of SAIL – ISP Burnpur and Sinter Plant BOP including Civil &amp; Structural (Sinter Package-2)” for 4.08Mtpa CS Expansion of SAIL – ISP Burnpur</in-capmkt:NatureOfOrdersOrContracts><in-capmkt:TimePeriodByWhichTheOrdersOrContractsIsToBeExecuted contextRef="I_BaggingOrReceivingOfOrdersOrContracts">30 months for Coke Oven BOP and 33 months for Sinter Plant BOP from the effective date of contract. The effective date of contract shall be the date of signing of Contract or 30 days from the date of Letter of acceptance (LOA), whichever is earlier</in-capmkt:TimePeriodByWhichTheOrdersOrContractsIsToBeExecuted><in-capmkt:BroadConsiderationForTheOrdersOrContracts contextRef="I_BaggingOrReceivingOfOrdersOrContracts">Total value of Rs.6733200000/- (Rupees Six Hundred Seventy-Three Crores and Thirty-Two Lakhs only) - (Net of Input Tax Credit)</in-capmkt:BroadConsiderationForTheOrdersOrContracts><in-capmkt:WhetherThePromoterOrPromoterGroupOrGroupCompaniesHaveAnyInterestInThatEntityToWhomTheOrdersOrContractsIsAwarded contextRef="I_BaggingOrReceivingOfOrdersOrContracts">false</in-capmkt:WhetherThePromoterOrPromoterGroupOrGroupCompaniesHaveAnyInterestInThatEntityToWhomTheOrdersOrContractsIsAwarded><in-capmkt:WhetherTheAgreementWouldFallWithinRelatedPartyTransactions contextRef="I_BaggingOrReceivingOfOrdersOrContracts">false</in-capmkt:WhetherTheAgreementWouldFallWithinRelatedPartyTransactions></xbrli:xbrl>
